Open AccessCHARACTERISTICS OF THE ACCOUNTING OF BIOLOGICAL ASSETS IN THE GRAIN PRODUCTION
Author(s) -
A.O. Beryoza
Publication year - 2018
Publication title -
juvenis scientia
Language(s) - English
Resource type - Journals
eISSN - 2414-3790
pISSN - 2414-3782
DOI - 10.32415/jscientia.2018.12.04
Subject(s) - accounting , fair value , national accounts , international financial reporting standards , multinational corporation , mark to market accounting , business , accounting information system , financial accounting , balance sheet , fund accounting , value (mathematics) , globalization , accounting standard , historical cost , economics , finance , market economy , machine learning , computer science
Today globalization of the world market leads to the need for the constructive interaction within the international market and the formation of common accounting forms and standards. The multinational corporations represent organizations that have divisions in different countries of the world. Therefore preparation of clear and transparent financial reports for such companies requires the establishment of common international standards. International financial reporting standards (IAS or IFRS) have become such standards. They are designed to provide an understanding of the reporting forms, to give an objective assessment of the property, as well as to promote interaction between investors and potential investment objects located in different national accounting systems. One of the standards that is of great importance for the Russian Federation is IAS 41 "Agriculture". Agriculture is one of the leading sectors in our country, which supplies products to both domestic and foreign markets. Accordingly, the adoption of the Russian analogue of this standard and the implementation of its provisions is a significant and important issue of today's economic reality.Thus, the need to allocate biological assets in a separate accounting and economic category, their reflection in accounting and reporting at fair value in accordance with the provisions of IAS 41 determined the relevance of the topic, purpose, objectives and logic of this work. The article suggests the author's approach to the calculation of the fair value of biological assets.